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EU Debt Woes Send Stocks Lower
The Dow Jones Industrial Average and the NYSE composite both sliced below their respective 50 DMA lines on Monday which is not a healthy sign. The 12-week rally ended on Tuesday, November 16, 2010 after the major averages plunged in heavy volume back down towards their respective 50 DMA lines. In recent weeks, we have repeatedly written about how the major averages were experiencing wide-and-loose action after a big move and made it very clear that that was not a healthy sign. At this point, we are looking for a new rally to be confirmed with a new follow-through day before taking any new positions. Caution and patience are key at this point. Trade accordingly.
Adam Sarhan
November 29, 2010
Stocks End Holiday Week Mixed
It was encouraging to see the bulls show up and defend the Dow Jones Industrial Average’s 50 DMA line. The 12-week rally ended on Tuesday, November 16, 2010 after the major averages plunged in heavy volume back down towards their respective 50 DMA lines. In recent weeks, we have repeatedly written about how the major averages were experiencing wide-and-loose action after a big move and made it very clear that that was not a healthy sign. At this point, we are looking for a new rally to be confirmed with a new follow-through day before taking any new positions. Caution and patience are key at this point. Trade accordingly.
Adam Sarhan
November 26, 2010
Investors Gobble Up Shares Ahead of Thanksgiving
Investors Gobble Up Shares Ahead of Thanksgiving
Adam Sarhan
November 24, 2010
Korea, China, & EU Debt Woes Send Dow Below 50 DMA Line
Tuesday, November 23, 2010 Stock Market Commentary: Stocks and a handful of commodities fell as the USD rallied after a slew of geopolitical threats sent
Adam Sarhan
November 23, 2010
Stocks Mixed As Dollar Rallies
The 12-week rally ended on Tuesday, November 16, 2010 after the major averages plunged in heavy volume back down towards their respective 50 DMA lines. In recent weeks, we have repeatedly written about how the major averages were experiencing wide-and-loose action after a big move and made it very clear that that was not a healthy sign. At this point, we are looking for a new rally to be confirmed with a new follow-through day before taking any new positions. However, we would be remiss not to note that the major averages deserve the bullish benefit of the doubt as long as they remain above their respective 50 DMA lines. Caution and patience are key at this point. Trade accordingly.
Adam Sarhan
November 22, 2010
Week 2: Stocks & Commodities Fall
The 12-week rally ended on Tuesday, November 16, 2010 after the major averages plunged in heavy volume back down towards their respective 50 DMA lines. In recent weeks, we have repeatedly written about how the major averages were experiencing wide-and-loose action after a big move and made it very clear that that was not a healthy sign. At this point, we are looking for a new rally to be confirmed with a new follow-through day before taking any new positions. Caution and patience are key at this point. Trade accordingly.
Adam Sarhan
November 19, 2010
Stocks & Commodities Rally As Dollar Falls
The 12-week rally ended on Tuesday, November 16, 2010 after the major averages plunged in heavy volume back down towards their respective 50 DMA lines. In recent weeks, we have repeatedly written about how the major averages were experiencing wide-and-loose action after a big move and made it very clear that that was not a healthy sign. At this point, we are looking for a new rally to be confirmed with a new follow-through day before taking any new positions. Caution and patience are key at this point. Trade accordingly.
Adam Sarhan
November 18, 2010
Stocks Consolidate Recent Decline
Market Action- 12 Week Rally Ends – In A Correction:
The 12-week rally ended on Tuesday, November 16, 2010 after the major averages plunged in heavy volume back down towards their respective 50 DMA lines. In recent weeks, we have repeatedly written about how the major averages were experiencing wide-and-loose action after a big move and made it very clear that that was not a healthy sign. At this point, we are looking for a new rally to be confirmed with a new follow-through day before taking any new positions. Caution and patience are key at this point. Trade accordingly.
Adam Sarhan
November 17, 2010
Stocks & Commodities Smacked As EU Debt Woes Continue
Heretofore, the action since this rally was confirmed on the September 1, 2010 follow-through day (FTD) has been strong but the market action has been wide-and-loose which is not a healthy sign and has caused the major averages to all pullback to their respective 50 DMA lines. This is the next important level of support for the major averages and several leading stocks. It is of the utmost importance for the bulls to show up and defend the 50 DMA line in order for this rally to remain intact. Caution and patience is key at this point. Trade accordingly.
Adam Sarhan
November 16, 2010
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